Nomura Reaffirms Buy Rating for Playa Hotels & Resorts (PLYA)

Playa Hotels & Resorts (NASDAQ:PLYA)‘s stock had its “buy” rating restated by equities research analysts at Nomura in a note issued to investors on Friday. They presently have a $16.00 target price on the stock. Nomura’s price objective points to a potential upside of 48.70% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of Playa Hotels & Resorts from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. Northland Securities restated a “buy” rating and set a $14.75 price objective on shares of Playa Hotels & Resorts in a report on Friday, November 10th. Finally, Zacks Investment Research lowered shares of Playa Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Playa Hotels & Resorts has a consensus rating of “Hold” and an average price target of $13.89.

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Shares of Playa Hotels & Resorts (PLYA) opened at $10.76 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.59 and a debt-to-equity ratio of 1.44. The firm has a market cap of $1,185.78 and a price-to-earnings ratio of -20.30. Playa Hotels & Resorts has a twelve month low of $9.45 and a twelve month high of $12.27.

Playa Hotels & Resorts (NASDAQ:PLYA) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. Playa Hotels & Resorts had a negative net margin of 2.38% and a negative return on equity of 1.00%. sell-side analysts anticipate that Playa Hotels & Resorts will post 0.02 EPS for the current year.

In related news, Director Daniel J. Hirsch acquired 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average cost of $10.52 per share, for a total transaction of $315,600.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.74% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC grew its position in Playa Hotels & Resorts by 1.5% in the second quarter. Farallon Capital Management LLC now owns 30,606,930 shares of the company’s stock valued at $365,753,000 after purchasing an additional 438,250 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. grew its position in Playa Hotels & Resorts by 20.0% in the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 8,806,666 shares of the company’s stock valued at $105,240,000 after purchasing an additional 1,466,666 shares in the last quarter. BlackRock Inc. bought a new position in Playa Hotels & Resorts in the second quarter valued at $96,964,000. Janus Henderson Group PLC grew its position in Playa Hotels & Resorts by 1.9% in the third quarter. Janus Henderson Group PLC now owns 4,186,994 shares of the company’s stock valued at $43,670,000 after purchasing an additional 79,431 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its position in Playa Hotels & Resorts by 123.8% in the third quarter. Commonwealth Bank of Australia now owns 2,029,477 shares of the company’s stock valued at $20,126,000 after purchasing an additional 1,122,770 shares in the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

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About Playa Hotels & Resorts

Playa Hotels & Resorts NV is based in the Netherlands and operates hotels and resorts. The Company owns, operates and develops all-inclusive resorts in beachfront locations in vacation destinations in Mexico and the Caribbean. It owns a portfolio consisting of more than 10 resorts located in Mexico, the Dominican Republic and Jamaica.